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Cheltenham & Gloucester cap for four and six

Capped terms: Two four year options capped until December 30, 2002 and six year option capped until December 30, 2004.

Capped rates: Loans up to 90 per cent of valuation – option one 6.39 per cent, option two 6.69 per cent and 6.79 per cent respectively. Loans up to 95 per cent of valuation – option one 6.59 per cent, option two 6.89 per cent and 6.99 per cent respectively.

Minimum loan: £1,000.

Maximum loan: Up to 95 per cent of valuation subject to a maximum of £200,000, loans up to 80 per cent of valuation – no maximum.

Income multiples: Three times principal income plus second or 2.5 times joint.

Arrangement fee: £299.

Redemption fee: Four year – option one – 6 per cent in year one decreasing to 1 per cent in year six, option two – 4 per cent in year one decreasing to 1 per cent in year four, six year – 6 per cent in year one decreasing to 1 per cent in year six.

Conditions: None.

Introducer&#39s fee: None, but until January 29, 1999 – 1,000 free air miles will be given for each mortgage of £25,000 plus, where loan is less than 90 per cent of valuation.

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